Highlights
Sales in the first nine months of 2024 reached 2885 MEUR, an increase of seven percent measured in both local currencies and reported figures compared to last year, driven by volume growth; sales prices overall remained stable.
▪ Q3 2024 sales reached 957 MEUR, an increase of five percent in local currencies and six percent in reported figures compared to last year.
▪ EBITDA in the first nine months of 2024 reached 710 MEUR, up 23 percent, yielding a 24.6 percent EBITDA margin. Earnings continued at a good level, as sales prices overall remained stable, and productivity improved.
▪ EBITDA in Q3 2024 reached 241 MEUR, an increase of 10 percent compared to last year. The EBITDA margin was 25.2 percent.
▪ EBIT in the first nine months of 2024 increased 34 percent to 514 MEUR with a 17.8 percent EBIT margin, up 3.5 percentage points.
▪ EBIT in Q3 2024 increased 18 percent to 173 MEUR, with an 18.1 percent EBIT margin, up 1.9 percentage points.
▪ Investments reached 248 MEUR for the first nine months of 2024, mainly related to electrical melter conversion at the Swiss factory and Systems segment capacity.
▪ Cash flow from operations before financial items and tax amounted to 684 MEUR for the first nine months of 2024 compared to 581 MEUR in the same period last year.
▪ Shareholders may from 28 November 2024 until 11 December 2024 request conversion of A shares to B shares. For further information please refer to https://www.rockwool.com/group/ about-us/investors/conversion-shares/.
▪ At the end of Q3 2024, the company had purchased 320,400 B shares under the share buy-back programme for a total amount of 108 MEUR.
▪ In the beginning of October 2024, ROCKWOOL completed two acquisitions. In the United Kingdom, Wetherby Building Systems Ltd, a leading UK supplier for external thermal insulation composite systems (ETICS), was acquired. In Vietnam, ROCKWOOL completed the acquisition of that country’s leading stone wool producer Khai Hoan Insulation, based near Ho Chi Minh City.
Outlook 2024
▪ Sales growth of around mid-single-digit percent in local currencies.
▪ EBIT margin around 17 percent.
▪ Investment level around 375 MEUR excluding acquisitions.
